Eaton Vance California Municipal Income Trust (NYSE:CEV) Major Shareholder Sells $341,066.31 in Stock

Posted by Scott Davis on Oct 25th, 2024

Eaton Vance California Municipal Income Trust (NYSE:CEV – Get Free Report) major shareholder Saba Capital Management, L.P. sold 31,551 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.81, for a total value of $341,066.31. Following the sale, the insider now owns 694,818 shares in the company, valued at approximately $7,510,982.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Tuesday, October 15th, Saba Capital Management, L.P. sold 5,500 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.69, for a total value of $58,795.00.
On Tuesday, October 8th, Saba Capital Management, L.P. sold 5,793 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $10.79, for a total value of $62,506.47.
On Thursday, October 3rd, Saba Capital Management, L.P. sold 19,170 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.86, for a total transaction of $208,186.20.
On Tuesday, October 1st, Saba Capital Management, L.P. sold 25,913 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $10.90, for a total transaction of $282,451.70.
On Thursday, September 26th, Saba Capital Management, L.P. sold 21,340 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $10.80, for a total transaction of $230,472.00.
On Monday, September 23rd, Saba Capital Management, L.P. sold 15,017 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $10.83, for a total value of $162,634.11.
On Wednesday, September 18th, Saba Capital Management, L.P. sold 28,682 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $10.89, for a total value of $312,346.98.
On Monday, September 16th, Saba Capital Management, L.P. sold 11,503 shares of Eaton Vance California Municipal Income Trust stock. The shares were sold at an average price of $11.02, for a total value of $126,763.06.
On Friday, September 13th, Saba Capital Management, L.P. sold 23,665 shares of Eaton Vance California Municipal Income Trust stock. The stock was sold at an average price of $11.03, for a total value of $261,024.95.

Eaton Vance California Municipal Income Trust Price Performance

Shares of CEV opened at $10.47 on Friday. The firm has a fifty day moving average price of $10.86 and a 200-day moving average price of $10.80. Eaton Vance California Municipal Income Trust has a 12-month low of $8.83 and a 12-month high of $11.29.

Eaton Vance California Municipal Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were given a $0.05 dividend. The ex-dividend date was Friday, October 11th. This represents a $0.60 annualized dividend and a yield of 5.73%.

Hedge Funds Weigh In On Eaton Vance California Municipal Income Trust

Hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in shares of Eaton Vance California Municipal Income Trust during the second quarter valued at approximately $328,000. Cypress Wealth Services LLC bought a new stake in Eaton Vance California Municipal Income Trust during the 1st quarter valued at $335,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Eaton Vance California Municipal Income Trust by 49.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 126,629 shares of the company’s stock worth $1,344,000 after buying an additional 41,944 shares during the period. 35.88% of the stock is currently owned by institutional investors.

Eaton Vance California Municipal Income Trust Company Profile

(Get Free Report)

Eaton Vance California Municipal Income Trust is a close ended fixed income mutual fund launched and managed by Eaton Vance Management. It invests in the fixed income markets. The fund invests primarily in debt securities issued by education, hospital, housing, insured-education, insured-electric utilities, insured-hospital, insured-transportation, insured-water and sewer, transportation, and other sectors.